Zacks: Analysts Anticipate CNX Resources Co. (NYSE:CNX) Will Announce Quarterly Sales of $384.30 Million

Equities research analysts expect CNX Resources Co. (NYSE:CNX) to report $384.30 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for CNX Resources’ earnings, with the lowest sales estimate coming in at $357.00 million and the highest estimate coming in at $411.00 million. CNX Resources posted sales of $148.84 million during the same quarter last year, which suggests a positive year over year growth rate of 158.2%. The business is expected to report its next earnings report before the market opens on Thursday, July 29th.

On average, analysts expect that CNX Resources will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $1.57 billion to $1.79 billion. For the next year, analysts forecast that the firm will report sales of $1.60 billion, with estimates ranging from $1.50 billion to $1.82 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover CNX Resources.

CNX Resources (NYSE:CNX) last announced its quarterly earnings results on Thursday, April 29th. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The company had revenue of $473.07 million during the quarter, compared to the consensus estimate of $400.43 million. CNX Resources had a negative net margin of 4.31% and a positive return on equity of 3.59%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.44) earnings per share.

Several equities research analysts recently weighed in on the stock. Truist Securities downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research report on Tuesday, March 30th. Bank of America downgraded shares of CNX Resources from a “neutral” rating to an “underperform” rating and set a $15.00 target price for the company. in a research report on Monday, June 21st. Wells Fargo & Company lifted their target price on shares of CNX Resources from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 19th. MKM Partners raised shares of CNX Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $16.00 in a research report on Thursday, July 8th. Finally, Truist downgraded shares of CNX Resources from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Tuesday, March 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $15.64.

Several institutional investors have recently modified their holdings of CNX. OLD National Bancorp IN lifted its stake in shares of CNX Resources by 2.8% during the 1st quarter. OLD National Bancorp IN now owns 27,547 shares of the oil and gas producer’s stock valued at $405,000 after buying an additional 754 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of CNX Resources by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 57,100 shares of the oil and gas producer’s stock valued at $839,000 after buying an additional 1,000 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of CNX Resources by 6.0% during the 1st quarter. Pacer Advisors Inc. now owns 24,604 shares of the oil and gas producer’s stock valued at $362,000 after buying an additional 1,393 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of CNX Resources by 0.9% during the 4th quarter. Guggenheim Capital LLC now owns 178,714 shares of the oil and gas producer’s stock valued at $1,930,000 after buying an additional 1,629 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of CNX Resources during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Shares of CNX traded down $0.32 on Monday, hitting $12.34. 26,060 shares of the stock traded hands, compared to its average volume of 2,779,860. The stock has a market cap of $2.72 billion, a P/E ratio of -24.45, a PEG ratio of 0.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.61 and a quick ratio of 0.59. The firm has a 50 day simple moving average of $13.79. CNX Resources has a one year low of $8.30 and a one year high of $15.89.

CNX Resources Company Profile

CNX Resources Corporation, an independent oil and natural gas company, acquires, explores for, develops, and produces natural gas properties primarily in the Appalachian Basin. It operates through two segments, Shale and Coalbed Methane. The company produces and sells pipeline quality natural gas primarily to gas wholesalers.

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